WSJ: Scotts Exploring Medical Marijuana Market

Scotts Miracle-Gro relies on Home Depot, Lowe’s and Walmart for nearly two-thirds of its revenue. But because consumers are still cautious about spending and, consequently, because the three box stores are not building stores at the rate they were several years ago, Scotts is exploring new markets to generate sales.

Markets like medical marijuana.

In a Wall Street Journal (WSJ) article published June 14, Scotts CEO Jim Hagedorn says he wants “to target the pot market,” and other niche markets to boost his company’s sales.

To target marijuana growers, WSJ indicates Scotts would buy niche dirt companies that already exist rather than create its own line of branded products.

Learn more about Scotts online at Scotts.com.

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18 comments on “WSJ: Scotts Exploring Medical Marijuana Market

  1. Maybe Mr Hagedorn does not realize that he “sold” the professional use portion of his business and what he would be allowed to sell to is homeowners and that violates Federal Law.

  2. grasping at straws are we? this is no new market and has much different players, some of which are criminals. it is certainly not a very large market when compared with commercial production of ornamentals and home gardening comsumption. perhaps he is using medicinally himself?!

  3. The mainstream garden supply industry has lustfully looked upon the “alternative” garden supply industry with jealous hopes of someday edging in on the action. With the mj growers standing in line at the “alternative” garden supply stores with wads of hundred dollar bills in their hands, waiting to hand it over to cashiers for drip irrigation, gourmet soil blends, specialty fertilizers, etc., it was only a matter of time before companies like Scotts/Miracle Gro got in on the action. Once they do, all the mainstream companies will too. Money talks in this economic recession, and moral or legal objections get pushed to the wayside.

  4. Hey been there done that,
    Marijuana cultivation is the largest by far agricultural crop in America. In 1985 (26 years ago!!), the University of Oregon Graduate School of Economics did a study of only Oregon’s cannabis crop and it was worth over a billion dollars back then. That was more than some of Oregon’s top ag crops combined! Today, it is anyone’s guess how many multiple billions of dollars Oregon’s crop is worth. Nationwide, estimates place the value of America’s crop at over a 100 billion dollars. And whether you like it or not, that money is what is keeping local economies afloat nationwide in today’s economic downturn. So you can badmouth it all you want but those dollars are flowing through your accounting books daily. And when that cash is counted from the till at the end of the day, I don’t think many manufacturers, wholesalers or retailers will be complaining as cannabis growers’ money is the majority of that cash. Or are you one of those do gooders that is willing to shoot yourself in the foot?

  5. I agree, This is a market which would benift many of us in our industry. If the Federal Goverment would just legalize it for medical use that would be a start. I am not a consumer but I believe it would greatly benifit our industry and maybe solve our tax problems.

  6. Our “Tax” problems as you put it, are the fault of Congress and Administrations drunk with power. Unless they are put back under the constraints of the People, no tax issues and other issues will be solved.Selling “legalized” pot or not.

  7. Years ago, it was rumored that the tobacco companies were researching the possibility that pot would be legalized and already had brand names picked out. Now this may only be a bit of Urban Legend, but here’s one that Scotts could use.

    “Miracle Glo”

  8. Just an fyi marijuana has many more uses than just medicinal. Like hemp fibers for textiles and paper for examples. I personally believe they don’t talk about the other uses that often because it’s not as news worthy as say a bunch of potheads petitioning for medical uses. Fact of the matter is yes it will help the agricultural, farming, and horticultural industries plus many more if you really sit down and think about it.

    Look at it like porn, myself I do without it, but it has helped technology (video, internet, ect…) dramatically. We don’t need to like it but it does do some good. Relating it to medical reefer imagine what it could do to the hydroponic market. Especially if their grow practices were not illegal and the risk of even talking about it was taken away.

    People have a very ignorant understanding of pot. It’s just a fact. Alcohol is by far worse but much easier to tax. So it’s legal.

  9. Can’t disagree more with what Scotts is doing. I spent several years working at a drug and alcohol rehab center. I have seen enough messed up lives from drug addicts that got thier start with pot and now cost the US billions from crime control, destoyed families, lower worker productivity, health costs and other problems.
    As far as medical marijuana goes, a pharmacist friend told me that is a joke. There are other legal alternative drugs that will do the same thing as pot. The druggies do not want you to know about them.

  10. You wish you could grow cannabis and make the good $. I’m very glad that Scotts found a profitable market. GOOD FOR THEM!! .. DON’T BE JELOUS!

  11. The other legal alternative drugs that are used for pain, relief from chemotherapy side effects and inflammation are much more dangerous than marijuana and have led to approx. 5000% more deaths. And I totally agree with the earlier post that alcohol is far worse than marijuana on many levels. Hemp is a highly sustainable resource that does not need the mass quantities of pesticides that is necessary to grow cotton and is being used to manufacture fabrics, paper, shoes and cooking oil. Hemp is and was used to make some of the best nautical ropes. Marijuana and Hemp (2 different plants) growing should be legalized. And taxed !

  12. @ rehab center guy. You have been severely misinformed as well as your pharmacist friend. Remember, he/she is being informed by the leaders of the pharmaceutical industry. They don’t want to see something natural actually increase appetite for patients, relieve pain, and kill skin cancer cells. That would devastate their industry. And watch out for those “legal alternatives” as they are giving people seizures and are quickly being outlawed (with good reason). Talk about costing the country billions…the war on drugs. It’s over. There’s a bigger picture as to why so many people are hooked on drugs. I wish it was more transparent to the main-streamers. It’s hard to have empathy when you can’t relate. As far as Scott’s intentions, I hope they come out with something natural ans organic because the last thing a cancer patient needs is more EDTA chemicals racing through his/her body!

  13. Please do five minutes worth of Google research. You’ll find that at one time American Farmers were reuired to grow cannabis plants for the oil, fiber and seed which have literally thousands of uses. The plants themselves use little water, break up hard dirt and grow like the weeds they are. The medicinal uses are just as impressive, but don’t expect anyone in the 40 Billion/year pharma industry to tell you that.

  14. Who cares? One of our biggest problems as a nation, particularly on the west coast is that we are so intolerant of our different opinions. On this matter, no one is ‘right.’ At least these MJ growers are coming out of the shadows and paying taxes. There is a lot of cash moving through that industry; most suppliers are interested in taking some of the share.

  15. I wonder how retailers will feel – proudly selling the Scott’s branded product when Scott’s is associated with this initiative. And so blatantly!! It isn’t really our opinion that matters – it is the opinion of the retailer’s customer that really counts!

  16. I will definitely choose brands other than Scotts from here out. I will also be recommending other brands than Scotts in my growing seminars. It bothers me deeply that growers would live up to the expectations that many people have that companies think only about profits. I have never heard any one argue that marijuana is good for one’s health—even if it has undeniable medical benefits. An industry like ours markets itself as a “good for you” industry. Why tarnish that image among those opposed to medical marijuana and lose long term goodwill—and profits—in exchange for limited short term opportunity?

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